HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/15/2001 - SECOND READING OF ORDINANCE NO. 80, 2001, APPROPRI AGENDA ITEM SUMMARY ITEM NUMBER: 8
DATE: May 15, 2001
FORT COLLINS CITY COUNCIL Frank Brune
FROM: Dave Siever
SUBJECT:
Second Reading of Ordinance No. 80, 2001,Appropriating Prior Year Reserves and Unanticipated
Revenue in the General Fund for Promotion of Convention and Visitor Activities and for Cultural
Development and Programming Activities.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
This Ordinance, which was unanimously adopted on First Reading on May 1, 2001, appropriates
2000 lodging tax receipts dedicated to the Convention and Visitors Bureau,Cultural Development
and Programming (CDP), Visitor Events, and Tourism Capital. In addition, it appropriates
unexpended 2000 appropriations for CDP, Visitor Events, and Tourism Capital and unanticipated
revenue received in 2001 for Visitor Events.
AGENDA ITEM SUMMARY ITEM NUMBER: 15
DATE:
FORT COLLINS CITY COUNCIL May 1, 2001
STAFF: Frank Bruno/
;SUBJECT: Dave Siever
First Reading of Ordinance No. 80, 2001, Appropriating Prior Year Reserves and Unanticipated
Revenue in the General Fund for Promotion of Convention and Visitor Activities d for Cultural
Development and Programming Activities.
RECOMMENDATION:
6
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT:
s.
This Ordinance appropriates $102,619 from t and Lod Tax Reserves and unanticipated
revenue for the Convention and Visitors Bureau, Cult elopr., t and Programming, Visitor Events,
and Tourism Capital as follows: Visitor
CVB Events Capital Total
Unappropriated 2000 Lodging T $ 1_, $ 9.254 $27.762 $49.355
Unexpended 2000 Appropriaf s 42,] -079 1,088 52.764
Unanticipated 2001 Revenu 500 500
Total Appropriated by t rdinance $0 54,536 ,-- 19,233 $28.850 $102,619
EXECUTIVE SUMMA
This O ance appropriates tax r is dedicated to the Convention and Visitors
Bure Cultural Development an (CDP), Visitor Events, and Tourism Capital. In
add' n, it appropriates unexpended 2000 appropriations for CDP, Visitor Events, and Tourism
Ca and unanticipated revenu received in 2001 for Visitor Events. The following information
exp each of these funding soirces.
Lodgt revenue for 2000 as estimated to be $558,857, while the actual receipts totaled
$608,2 Ol budge ropriated the estimated 2000 receipts of$558.857. The additional
200010 e amount of$49,355 have not been appropriated. In accordance with
Section 25-244 o try Code, 75% of the total receipts are to be used for the promotion of
convention and visitor activities, and 25% for cultural development and programming (CDP)
activities. In accordance with the City's contract for services with the Convention and Visitors
Bureau (CVB) for 2001, the City's 2001 payment to the CVB has been set at $373.223. The total
2001 allocation of funds is as follows:
DATE: May 1, 2001 2 ITEM NUMBER: 15
2001 Budeet 2000 Receipts Difference
CVB $373.223 $373.223 $ 0
Tourism Capital 14,357 42.119 27.762
Visitor Events 31,563 40.817 9.254
Visitor 75% $419,143 $456,159 $37.010r
CDP 25% $139,714 $152,053
Total $558,857 $608,212 $49,3
The Cultural Development and Programming (CDP) and Visitor Events funds ardi` n the General
Fund reserves for lodging taxes and must be appropriated to be ulftiut
port eve that provide
a public benefit to the Fort Collins Community and of public
accommodations within the City. The City's Cultural Resources Boaz ations for
these funds and makes recommendations to the City Council.
The CDP, Visitor Events, and Capital accounts a ad the previous years to tax
allocations which were appropriated, but used during` 00. The unexpended 2000
appropriations are: CDP- $42,197,Visitor 479, an pital - $1.088. These funds are
in the General Fund reserves for lodging taxes ust be a 'ropriated into the CDP. Visitor
Events,and Capital accounts to be used to promote cu p p deu6opment and pro-ramming activities
and provide tourism capital. 14='
In addition, Visitor Events received un d revenu amount of$500 in 2001 that
has not been appropriated" hese funds were z but not a end therefore, returned to the
Visitor Events program. T# se funds must be appr ed in the Visitor Events program to be used
to provide programming ' `vities for visitor events
� x
na 1